Consumers have gradually started to adopt the digital lifestyle, and it has disrupted businesses in every industry, introduced new competition, and redefined ecosystems. The financial sector is no exception to this.
The account holders now expect banks and financial institutions to treat them well and offer rewards and discounts — that too through a channel they prefer.
There are many digital opportunities for banks to explore, but the key earn value from this is to connect with customers digitally and build simple, contextual and personalized experiences.
But here lies the actual challenge. Are the traditional financial services industry executives and their organizations willing to embrace the change that is occurring, take appropriate risks and disrupt yourself before you are disrupted? To know more about this imminent disruption, read here.